calculating the price where a position has specifiec profit

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Hi

Could someone please tell me how I can calculate where a position will have a specifiec profit in deposit currency ?

For example I open a 0.1 lot EURGBP on 0.8912 and I want to set it's TakeProfit at a price where positions' profit will be exactly 40$ ($ is my accounts deposit currency )

I know MarketInfo(symbol(),MODE_TICKVALUE) but this function just give the Profit/Pip according to the current price of pairs not the future prices,

really thanks

  
ticket = OrderSend(.....);
OrderSelect (ticket, SELECT_BY_TICKET, MODE_TRADES);
double Profit = OrderProfit();
if (Profit >= 40)
   {
   do something
   }
 
qjol:

Hi

Really thanks but I know this

actually I need to set TakeProfit at that price when opening the position and also I need to use pending orders to be automatically opened when my position has specifiec profit or loss

I need all of this to avoid reqoutes and ...

 
Mehdi_Sobhani:

not the future prices,

i'm so sorry, but if If anyone would know the future priceshe he was a millionaire
Or maybe A billionaire

 

No

I think I don't need the future price,

for example imagine opening 0.1 lot EURJPY and MarketInfo("EURJPY",MODE_TICKVALUE) is 1.2387, each pip will gain 1.2387 Dollar so if we set the TP to 32 pips over the opening price it will be closed automaticaly in approximately 40 $ profit but not exactly 40$ because MarketInfo("EURJPY",MODE_TICKVALUE) will change in higher prices,

 

then use OrderModify() every tick

 
qjol:

then use OrderModify() every tick


Hi

Really thanks for your attention to my question

I think this is the best available way I have

Thanks

 
Mehdi_Sobhani:

Hi

Could someone please tell me how I can calculate where a position will have a specifiec profit in deposit currency ?

For example I open a 0.1 lot EURGBP on 0.8912 and I want to set it's TakeProfit at a price where positions' profit will be exactly 40$ ($ is my accounts deposit currency )

I know MarketInfo(symbol(),MODE_TICKVALUE) but this function just give the Profit/Pip according to the current price of pairs not the future prices,

really thanks



One should use the market to determine stoploss and takeprofit prices for your position, they should not be an arbitrarily specified dollar amount.

Based on market analysis you should know what stoploss and takeprofit prices are reasonable, then the lotsize for your position becomes the variable that allows you to control your $-risk and $-profit potential.

For example, I use Fibonacci retracement values to set my stoploss, Fibonacci expansion values to set my takeprofit, and my overall equity to risk amount (a fixed percentage of my account's balance) determines the lotsize of the position itself.

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